Bank acct for lottery winner

aj3001

Unfortunatly not me, but I have always been curious, if you win the lottery can you put it all like into an HSBC account, or do you have to use specail banks/accounts?

sgx.saint

Do you mean initially when first receiving the funds?

I guess in the long run, you would want your money spread across several accounts including high interest savings accounts, with a view to investing a percentage of it.

I guess whether you could receive the initial lump sum would depend on your bank. Some may have limits due to money laundering and so forth to how much you can receive all in one go.

But I am just speculating

Kilty_2

I think Camelot provide advice as to what to do with the money if you win.

Most banks have limits on the amount you can deposit into an account, for example Nationwide's E-Savings £3,000,000.

aj3001

Must be said, I would love to have a bank statement come through showing a balance of £20,000,000.00!

Thanks for the replies guys

sgx.saint

Me too, and if anyone feels like donating to a worthwhile cause (Me) then please feel free.

I'm for sale

thewizz2009

i no a good account to put it in, if you private message me, i will give you the sort code and account number.

It had to be said.

I saw a programme about a winner, and i think they got setup with Coutts, part of RBS, the queens bank

realaledrinker

Nice one wizz.

Your post even reads a bit like a phish!

Phoenix79_2

sgx.saint wrote:

I guess whether you could receive the initial lump sum would depend on your bank. Some may have limits due to money laundering and so forth to how much you can receive all in one go.

But I am just speculating

If the cheque is form a reputable source (ie Camelot in this case) then there will be no problem in depositing a huge sum in an account.

I can only dream! I'd set up a Coutts account. From what i've heard if you want to visit your branch to talk about something, you ring them up and they send a limo for you Not sure if its true buts its a nice rumour

sgx.saint

I can only dream! I'd set up a Coutts account. From what i've heard if you want to visit your branch to talk about something, you ring them up and they send a limo for you Not sure if its true buts its a nice rumour

We should start an MSE lottery syndicate

heppy23

aj3001 wrote:

Unfortunatly not me, but I have always been curious, if you win the lottery can you put it all like into an HSBC account, or do you have to use specail banks/accounts?

I would have thought any current account would accept a cheque for lottery winnings. They would then be falling over themselves to help you invest it.

KTF

thewizz2009 wrote:

I saw a programme about a winner, and i think they got setup with Coutts, part of RBS, the queens bank

Yeah, I imagine it would be Coutts or a similar 'high profile' bank would be knocking on your door wanting your business.